Payments processor Total System Services, or TSYS, has added a fraud mitigation program from Fair Isaac Corp., a data analysis and credit risk company commonly known as FICO.
TSYS' licensed Prime card and merchant management system will offer FICO Falcon Fraud Manager 6 as a hosted service for global clients. The FICO/TSYS technology manages fraud by examining behavioral aspects of cardholder activity, using analytics to spot potential fraud.
The technology also includes neural network models and merchant profiles, which allow the fraud detection models to change as global fraud patterns evolve. The companies disclosed one client, EnterCard, a Nordic-based TSYS Prime user.
Heartland Payment Systems, another large processor, recently bolstered security by using Alaric's Fractals fraud protection technology.
"With fraud increasing and evolving around the globe, it is more important than ever for financial institutions to protect their customers' exposure to fraud with advanced analytics," said T.J. Horan, vice president of global fraud solutions for FICO, in a release.